If you’re apartment hunting and a landlord is advertising an apartment with the FIRST MONTH RENT FREE, it may work out for you if you’re just looking for something short term. However, Teaser Rents are usually too good to be true for the renter looking for an apartment to call home, long term.
An advertised ‘free’ month is usually amortized over the rest of the apartment lease. In other words, you’ll end up paying the same rent, just structured differently.
some landlords are offering discounts, but most tenants just want lower monthly rent payments…
So beware the ‘gimmicks’ intended to lure you to an apartment that may not suit your needs. Instead, choose a functional, reliable apartment by weighing the merits of the apartment, the building and the property management overseeing it.
Choose a Landlord who keeps their rents fair & often below market rates; their buildings well managed, clean & secure; with Superintendents living onsite to take care of Tenant concerns.
At the end of the day, ongoing cheaper monthly rent, not a month or two of free rent, is a more secure deal for a Tenant.
Credit: Ronda Kaysen, The NY Times